Nigeria reaffirms commitment to Energy Bank’s take-off

The Federal government of Nigeria has reaffirmed its commitment to the African Energy Bank’s formal commencement of operations.

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri made this known on Monday at the 46th extraordinary ministerial meeting of African Petroleum Producers’ Organization (APPO) in Abuna.

The Minister attended the meeting alongside the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omotsola Ogbe who serves as an Executive Board member of APPO, representing Nigeria.

The meeting was chaired by President of APPO, who is also Côte d’Ivoire’s Minister of Mines, Petroleum and Energy, Mamadou Sangafowa-Coulibaly, with the Secretary General of APPO, Mr. Farid Ghezali in attendance.
Engr. Ogbe

Part of Nigeria’s delegation to the meeting included the immediate past Secretary General of APPO, Dr. Omar Farouk Ibrahim, who currently serves as Special Adviser on International Relations to the Nigerian Minister of State for Petroleum Resources (Oil).

The African Energy Bank (AEB) was established by the African Petroleum Producers’ Organization (APPO) and the African Export-Import Bank (Afreximbank). It is conceived to address the critical financing needs of Africa’s oil, gas, and broader energy sectors and mitigate the global funding pressure against hydrocarbon investments in Africa.

The AEB is positioned to become Africa’s premier partner in mobilizing private-sector funds for energy projects across the continent, providing accessible and affordable financing for the development of energy projects in Africa.

The Africa Energy Bank is housed on the third floor of the Afreximbank African Trade Centre, in Abuja and the Nigerian Government donated and handed over the furnished office premises in February 2026.

The bank was originally billed to take-off before the end of April and was expected to have held shareholder meetings, appointment of management and board, recruitment of staff, and other necessary procedures.